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Minjin
Mrs. Minjin is 42 years old and lives with her husband and 4 children in a ger (Mongolian yurt) in the Arkhangai province of Mongolia. Her husband is a security guard at a private company. Her oldest son is a university student and her 3 daughters are secondary school students. Currently she is working at a private tailoring company as a tailor. She has years of experience in this area and has already built close relationships with customers. Her income is performance based and she needs to pay her son's university tuition fee and living expenses in the capital city. She is an open-minded and diligent person. She is requesting a 600,000 MNT loan to pay her son's university tuition fee and other expenses related to his education.

Additional Information

More information about this loan

This loan is part of XacBank's education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to secondary and higher education.

About XacBank

This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.

About Mongolia

  • $2,175
    Average annual income
  • 9
    View loans »
    Mongolia Loans Fundraising
  • $15,345,375
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $450 helped Minjin to pay her son's university tuition fee and other expenses related to his education.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 17, 2012
Listed
Nov 6, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 18, 2013